Trust Your Instincts!  Check 'Em Out

I just read a post by Antoinette Scognaniglio, called "Read this now...Realtor Safety issues...Who are THEY Anyway?"

Great post, Antoinette!

Her story was similar to a very recent experience that I had, but while mine was not a safety issue, (at least I don't think so), what it has in common with her story is the "Google" factor.

This is important not only to REALTORS, but to the FSBO folks out there trying to go it alone.

Here's my story:

I received a 'buyer' call in reference to a high end ranch - with all the expected 'goodies'- that I had listed. The prospective buyer he said he was putting together a "Vacation Club", whereby his clients could choose from a variety of exclusive properties all over the country for their vacationing needs. He informed me he was looking for more than one property in the area, as well as in another area outside Denver. Could I arrange a referral to the listing agent there?

Hmmmm. Let me think for a nano second...Yes. Of course I could!

He claimed to be a developer/broker, and went on to tell me about the latest project he'd completed, a golf community and resort in Edwards, Mo.

I began sending property listings I thought would best meet his needs, with countless emails going back and forth, and arranged a referral with a Denver area agent, who then made contact with him. He emailed to let me know he'd be coming to town, and when would I be available? I told him I'd be out of town during such and such, and we made arrangements to work around both schedules.

Starting to sound pretty good, huh? Well. Not so much.

When I started talking qualifying; cash or loan?  lender? verification of funds?, his plans suddenly changed. (No answers to the $$ questions). Now, he'd actually be coming during the period I was to be out-of-town, and who would be taking care of my business while I was away?

Alrighty then. Something is not quite right here.

So. I decided to Google him. This is what I found:

Man who took investors' money for golf club that failed required to pay $99,947 restitution in judgment filed by Nixon

(Nixon is the Attorney General ;)

Nixon's office received complaints from consumers who invested in blanked, located on Highway 7 in Edwards, including three individuals who put up $25,000 each. The defendants represented to investors that their funds would be used to develop blanked and that they would receive a significant rate of return on their investments. Nixon says, however, that the defendants never obtained additional funding to develop the project and failed to return the investors' principal.

In addition, Nixon says, the defendants solicited employees for blanked with the promise of high paying jobs. Several individuals left their existing employment and performed work for the defendants, but were never paid for the work or received the promised position with blanked.

Upon judicial approval of the consent judgment, blanked will be permanently barred from continued violations of Missouri consumer protection laws. Specifically, the defendants will be prohibited from soliciting or accepting funds for investment in blanked or any other resort or land development projects. The defendants will also be prohibited from soliciting consumers for employment positions with blanked or other developments, from maintaining a Web site for blanked or other developments and from advertising for blanked or other developments unless full funding has been obtained to build the development.

In addition, once approved by the Circuit Court, the defendants will be ordered to pay $99,947 in restitution to five individuals who filed complaints with the Attorney General's Office.

 Do you think I gave him the name of the agent covering my business? LOL

Of course, I also called the Denver agent and gave him a heads up.

Trust your instincts. Find out who you're dealing with if you can.  Just another beneficial use for GOOGLE!

Imagine what could have been the time wasted for the agents, (both selling and listing), and the disappointment of hopeful sellers.

Here's my theory- I believe he intended to put offers on properties for which he hoped to find "investors" with deep pockets. I'm thinking nothing would have ever seen the light of a closing table.

 This is the best I could come up with, so I'd be interested to know, what do you think his scam was?

Woodland Park Colorado, Prudential Professional REALTORS, ASP REALTOR